Work starts on $111m six-tower project in Dubai

Jumeirah Village Circle residential scheme will add more than 770 apartments

Ground breaking has taken place on the site of a new six tower residential complex in Dubai’s Jumeirah Village Circle (JVC).

Close to Al Barsha Fourth, the six building project is valued at AED410 million ($111 million), covers an area of 100,000 sq ft and has been designed by Abdul Rahim Architectural Consultants (ARACO).

The buildings will add a total of 772 apartments to JVC, consisting of 75 studio units, 655 one-bedroom apartments and 42 two bedroom apartments and is expected to be completed within 17 months, the company said in a statement.

Rahim Lari, ARACO's general manager, said construction on all six sites will begin simultaneously under its supervision. In addition, ARACO’s scope of work will include architectural design, MEP and structural engineering and obtaining the necessary licences from all relevant bodies.

“Real estate in Dubai continues to be an attractive investment and our participation in this project underlines our trust in the emirate’s economy as it continues to provide the highest return on investment of any market in the region. We are delighted to be a part of this grand project in JVC and seek to carry out our duties within the agreed terms and conditions,” said Lari. 

Conceptualized and owned by HNI Clients Real Estate and represented by investor partner Praveen Sharma, the buildings will be constructed by Ghantoot Gulf Contracting Company.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Railways are huge priority for the GCC

Railways are huge priority for the GCC

Rail has the potential to dramatically affect Gulf economies...

Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

The troubles at Saudi Oger have led to a cash crunch and layoffs...

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Plight of workers has alarmed their home countries and drawn...

5
Most Discussed
sponsoredTracking